technically, Its almost general consensus that the price of XAGUSD may continue to trend higher. we may see prices target the 17 price levels. I decided to step back a little to observe the trend of XAGUSD that began in July 2016 when price rallied above 20. This was just to get a bit of insight to support my objective of going long or confirm key S/R levels basically. I understand that some concerns may arise around the quality of the analysis drawing relying on too much historical data. I also did a similar analysis at the recent highs that occurred in the middle of September 2017.
it is important to note that the silver is coming from a significant turning point at support around the 15.60 price levels (See green arrows in the above chart). The seems to coincide at the 15.5 price areas. The confirms a outlook in the short-term representing an opportunity to reinstate a buy position. The lagging indicator is below price 26 candles in the past. I am looking at an entry point around the . im looking at taking profit around 17.00
My psychology nothing is guaranteed. This is the first idea im publishing to test my understanding of the markets. i can only wait to see how this plays out